There appears to be an economic rebound taking place — and history shows ways to play it in the market, according to Bank of America. "It's official: we're in a Recovery," wrote strategist Savita Subramanian in a note to clients Sunday. While Subramanian noted the past few years have not felt like a well-defined "cycle," the firm's U.S. regime indicator improved for its second consecutive month in August. That means the tool is showing a recovery phase, she said.
"We also believe AIZ has done a good job at better level-setting expectations for '23 EBITDA growth that sets up a beat and raise story near term as savings from its cost-cutting program along with pricing increase efforts begin to bear more fruit." Newell Brands also made the list. The Rubbermaid and Paper Mate parent has underperformed in 2023, down about 24% year to date.